Second mortgages can be very useful for a few reasons. If you need to take some equity out of your property (commercial or residential) but have a large penalty to break your first mortgage, you may want to consider a… Continue reading
Are you a homeowner who needs to refinance past 80% of the value due to financial challenges? Are you wanting to purchase a home but don’t have sufficient down payment or have credit issues? You may want to consider a… Continue reading
A growing number of long-range economic forecasts suggest we are heading for a new economic normal; slower economic growth and persistently lower interest rates. The latest report from one of the country’s large financial institutions forecasts Canada’s growth to be… Continue reading
If you owe CRA a significant amount of money due to a re-assessment & have no way to pay it, you may have options. Any schedule 1 bank that you walk in to won’t allow you to refinance your home… Continue reading
A couple of weeks ago the Office of the Superintendent of Financial Institutions (OSFI) announced its complete B-21 guidelines for underwriting insured mortgages (less than 20% down payment/equity). The industry has until June 30/15 to implement the new guidelines.
Cash-back… Continue reading